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| where wealth is created through the effective management of knowledge workers instead of by the efficient control of physical and financial assets. |
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| diff btwn the market value of the firm and the book value of the firm, including assets such as reputation, employee loyalty, and commitment, customer relationships, company values, brand names and the experience and skills of employee |
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• Google, Apple, Microsoft and Oracle have very high market value to book value ratios b/c of high investments in knowledge resources and tech expertise
• Market Value of firm (minus) Book Value of the firm |
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| the individual capabilities knowledge, skills, and experience of a company’s employees and managers |
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| the network of friendships and working relationships btwn talented people both inside and outside organization |
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| Critical in sharing and leveraging know and in acquiring resources |
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| knowledge that is codified, documented, easily reproduced, and widely distributed (Engineering drawing, software code, patents, etc.) |
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| knowledge that is in the minds of employees and is based on their experiences and backgrounds |
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| Shared only with the consent and participation of employee |
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| 360° Evaluation & Feedback systems |
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| superiors, direct reports, colleagues, and even external and internal customers rate a person’s performance (complements teamwork, employee involvement, and organizational flattening) |
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| 6 areas where mgmt of diverse workforces can improve an org effectiveness and competitive advantage |
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| 1) Cost, 2) resource acquisition, 3) marketing, 4) creativity, 5) problem-solving, 6) organizational flexibility |
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| analysis of the pattern of social interactions among individuals (Helps diagnose effective and ineffective patterns) |
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| the degree to which all members of a social network have relationships (or ties) with other group members (Develop strong relationships with each other, high levels of trust, greater solidarity) |
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| relationships in a social network that connect otherwise disconnected people. (contrast of closure, stresses importance of ties connecting people) |
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| Social gaps btwn groups in a social network where there are few relationships bridging the groups |
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| method for making ppl more willing to collaborate by crafting compelling common goals articulating a strong value of cross-company team work, and encouraging collaboration in order to send string signals to lift ppls sights beyond their narrow interests towards a common goal |
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| method for making ppl more willing to collaborate by building nimble interpersonal networks across the company. |
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| ppls dual focus on the performance of their unit (the vertical part of the T) and across boundaries (the horizontal part of the T) |
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| method for making ppl more willing to collaborate by getting the right ppl to work on the right projects |
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| info that is not available from public sources and is usually communicated in the context of personal relationships |
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| a tendency in an organization for indivs NOT to question shared beliefs (may occur in networks with high levels of closure, where there is little input form ppl outside of the network) |
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| a team of indivs that completes tasks primarily through email (Adv: Less restricted by geographic constraints, broader range of HCI) |
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| Intellectual Property right |
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intangible property owned by a firm in the forms of patents, copyright, trademarks, or trade secrets.
• Physical Assets (plant, equip, land) |
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| the capacity to build and protect a competitive advantage, (knowledge, assets, competencies, and complementary assets and tech) |
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